When taking out private health insurance for the first time, it is important to think about which features are best suited to your needs.
There are certain elements of a policy that will be more useful than others – for example, if you are single then you are not likely to be interested in cover for pregnancy or IVF treatment.
It is worth bearing in mind that extras and hospital cover do not have to be sourced from the same fund, so you can maximise the options that are available to you.
By taking a mix and match approach, you can arrange each component so you get the best rebates and premium savings throughout the duration of your private health cover.
It is advisable to reassess your policy annually to make sure you still have the right product for your needs, as situations can change throughout the course of 12 months.
For example, you may find yourself in a relationship and therefore want to benefit from the policy features you had previously ruled out.
Switching to a new health fund is much easier than many people recognise, as legislation states that policies need to be portable.